London IPO set for July, road shows June

London IPO set for July, road shows June

The time table for Medco's secondary public offering (SPO) is being finalized, with the event scheduled for mid-July, CEO Hilmi Panigoro said.

"We will make non-deal road shows to Hong Kong and Singapore in May," Hilmi said.

After that, in June, the company would conduct official road shows to Asian cities as well as London and several cities in the U.S., namely Los Angeles, New York, San Francisco, Philadelphia, and Boston, he added.

In a bid to go further in the international market, Medco is planning to sell some 1.5 billion shares, or 40 percent of its stake, and list its shares on the London bourse.

Medco's share ended unchanged at Rp 2,575 on Monday. JP